IBM and U.S. Department of Commerce Invest $2 Billion in Quantum Chip Foundry in Albany
By
Ivy Delaney
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Summary
IBM and the U.S. Department of Commerce are jointly investing $2 billion to establish Anderon, a new pure-play quantum chip foundry in Albany, New York. The initiative combines a $1 billion CHIPS Act incentive from the DoC with IBM's $1 billion contribution in financial resources, intellectual property, and workforce expertise. The facility will focus on manufacturing 300-millimeter quantum wafers, marking a significant step toward commercially viable quantum computing. The investment aims to strengthen U.S. leadership in the quantum industry, which is projected to generate up to $850 billion in economic value.
Key quotes
· 3 pulledA 1 billion CHIPS incentive from the U.S. Department of Commerce and a 1 billion contribution from IBM will establish Anderon, a new company in Albany, New York, focused on quantum chip manufacturing.
The initiative combines the CHIPS incentive with IBM's financial commitment, intellectual property, and workforce expertise to produce 300-millimeter quantum wafers, indicating a move toward commercially viable manufacturing.
This commitment aims to strengthen U.S. leadership in the growing quantum industry, which is estimated to generate up to 850 billion in economic value.
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